The liquidation of the largest Madoff feeder fund, Fairfield Sentry, recently made a major mark on Chapter 15 of the Bankruptcy Code. The lynchpin of Chapter 15 (and the Model Law on Cross-Border Insolvency) is the ability to locate a debtor’s center of ... Read full article
The recent World Bank Report on the Treatment of the Insolvency of Natural Persons highlighted in its first pages (13 and ff.) the alternatives regarding which debtors to be include in this special regime. ... Read full article
First of all, I would like to thank the Credit Slips team and, in particular, Bob, for hosting me here again. I guess that after six years, memory is weak, and it is easier to believe that I could have something interesting to share with their readers. I ... Read full article
This just in from Ireland : A large mortgage bank there, AIB, has agreed to a plan to split some mortgages into a "good" tranche, equal to 80% of the current market value of the home (forgiving the other 20% of that tranche) and another, ... Read full article
If ... Read full article
I've been corresponding with an analyst in a country that still jails people for unpaid general debts. ... Read full article
"Make ... Read full article
No, not ... Read full article
The European Commission's Financial Se ... Read full article
Judging by an ... Read full article
Thanks so much to Bob and everyone else at Credit Slips for inviting me to join on a more consistent basis! ... Read full article
Every so often in the United States, I come across a discusion of the choice of the word "cramdown" (cram down, cram-down) to describe either stripping down liens or confirming a repayment plan without creditor consent. The basic thrust of these ... Read full article
There is a widely-held view that sovereign bonds don't contain the optimal terms but are slow to incorporate better ones. Right or wrong, that view has prompted many government-sponsored initiatives to reform bond contracts, such as the current plan ... Read full article
In my last post , I said that the US Court of Appeals for the Second Circuit had interpreted the pari passu clause in Argentina's bonds as a promise to forego a century's worth of restructuring practices. The district judge still needs to ... Read full article
